HPQ Silicon Partners with Open Markets to Scale Its Battery Business into a Standalone Company and Pursue a Listing on a Major U.S. Exchange
HPQ Silicon signed a strategic consulting agreement with Open Markets to spin its North American battery business into a standalone US corporation, working name Project ENDURA, with a potential future U.S. exchange listing. Under the contemplated structure, HPQ would contribute battery-related rights for US$4.2 million in cash, an expected 55% equity stake in NewCo, and a royalty on defined net revenue, funded by a targeted ~US$20 million initial NewCo financing.
Key figures
- Deal Value Usd
- 4200000
- Equipment investment usd
- 8000000
- Hpq expected equity stake
- 55%
- Newco financing target usd
- 20000000
- Open markets upfront fee usd
- 50000
AI analysis
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